GST Impact: What Will Get Expensive & What Will Get Cheaper!

The rollout of Goods And Services Bill (GST) is now 99% confirmed effective July 2017. After Lok Sabha passed 4 crucial bills related to GST late last month, Rajya Sabha has cleared the bill without any modifications.

Now, only States need to discuss the implications of GST, before nationwide roll out.

Hailed as the biggest, most powerful financial reform bill to have passed since Independence, GST unifies the nation with one tax regime: Either you are selling a product from Assam or Tamil Nadu, it won’t matter henceforth.

The common man is, of course, worried about the actual impact of GST on his pocket, and understanding this need, we bring to you major services which can become expensive after GST rolls out, and 7 of those services, which can become cheaper:

The Cheap List Under GST

Televisions/ AC/ Refrigerators (Currently, televisions and electronic appliances are charged 30% tax, which will come down to 18% for small-screen TV and 28% for AC, refrigerators and others)

Washing machines

Gas/Electric stoves

Essential food items like edible oil (Under GST, tax on these items will fall from 30% to 28% and in some cases, even 18%)

Basic food products like wheat, rice, pulses

Soaps, Oils

To be fair, GST changes for essential food products and petrol/diesel hasn’t been announced yet. But going by statements issued by GST Council, it is clear that overall impact on these commodities and products would be positive, and they would become cheap.

Mohul keenly observes the nuances of Indian startup world; and tries to demystify the secrets behind Technology, Marketing, Mobile and Internet. He is a Writer by passion, Marketer by choice and Entrepreneur by compulsion. Follow him on Twitter here: @_mohul